TGW Logistics Group expects last month's purchase of ECOLOG Logistiksysteme GmbH will help boost revenues to 350 million euros (about $484 million) by 2010. ECOLOG, an Austrian supplier of automated logistics solutions, joined TGW on July 1. It posts revenues of approximately 40 million euros (about $55 million) annually.
TGW will restructure to take advantage of the new acquisition. All of its operating companies will operate under the banner of a newly established holding company. Georg Kirchmayr will serve as president of the holding company. Manfred Lindner will continue as CEO of ECOLOG, and together with Rudolf Hansl, will be responsible for sales within the entire group.
"TGW Logistics Group will reposition ourselves as a systems supplier for integrated logistics solutions," says Kirchmayr. "By integrating ECOLOG, the group of companies now has a highly experienced controls and software division with material handling competencies, which we need for our future growth and success."